Prophecy Platinum Corp.(TSXV:NKL) announced the closing of a non-brokered private placement. The placement raised gross proceeds of approximately $6,080,650. The Company plans to use the proceeds from the placement at its Wellgreen project.
As quoted in the press release:
5,067,208 Units were issued at a price of $1.20 per Unit to generate gross proceeds of approximately $6,080,650. Each Unit comprised one common share and a half (1/2) share purchase warrant exercisable until July 31, 2014. Each whole warrant entitled the holder thereof to acquire one additional common share at a price of $1.50 per share in the first year of the warrant term and $2.00 per share in the second year of the warrant term.